ENTERS INTO ISRAELI DATA CENTER MARKET
Data center and connectivity service provider, Digital Realty, has just established a joint venture with Mivne Real Estate to develop a new multi-tenant data center campus in Israel.
Through the new joint venture, Digital Realty and Mivne expect to develop and deliver a 20MW campus which is precisely located in Petah Tikvah, a connectivity hub in Israel. Based in the country, Mivne is a real estate owner, developer and operator with an extensive land bank in its portfolio.
“Today’s collaboration marks the beginning of a new chapter for Digital Realty’s operations, customers and partners in the Middle East. We expect this partnership to further accelerate our growth while enhancing our ability to support our customers’ digital transformation across the globe,” said A. William Stein, Chief Executive Officer of Digital Realty.
“This partnership represents consistent execution towards new market entries. We are also gratified to partner with Mivne, leveraging its extensive experience as a local investor and operator. This announcement advances our strategy of developing strategic and highly connected, network dense data centers to strengthen and diversify Digital Realty’s portfolio and expand our product mix and global footprint.”
With the data center campus initial phase scheduled to be delivered in 2023, the new joint venture will operate under the brand name “Digital Realty Mivne”.
“Entering the field of data centers is a strategic growth engine for Mivne. Due to Mivne’s large and strategic land bank and its extensive geographical distribution across Israel, the joint venture will be able to develop strategically located, purpose-built data centers,” said David Zvida, Chief Executive Officer of Mivne.
“This strategic partnership with a leading international operator such as Digital Realty, which has proven operating capabilities and extensive relationships with international customers and suppliers, will enable us to gain leadership in the Israeli data center market.”
This announcement follows the appointment of Mary Hogan Preusse as the new Chairman of Digital Realty’s Board of Directors.